The Danish Central Bank to support digital currencies

The Danish Central Bank to support digital currencies

  

Denmark, as compared to other European countries, with less reliance on cash at present, most of the population, the country is considering its own digital currency. Digital currency block chain based on the Danish Central Bank plans to issue their own, called e-krone (electronic kroner) as its reserve currency.

Responsible for the supervision of the domestic production of cash the Danish Central Bank governor Lars Rod (LarsRohde) said that the government will not be issued in a Fiat real soon. Rhodes plans to outsource the production of the Danish krone, and hope to use the independent financial network block chain technology based on replacing cash.

Electronic tracking.

In an interview with Bloomberg, Rhodes said, to challenge and block chain technology is currently facing the central bank or other financial technology.

Rhodes said: “we are not drowning in this technology, because we know that our problem is.”

He added that cash is not a substitute for electronic payment:

“Cash and bill is not to replace the electronic payment. Many years ago we understand this point.”

On the contrary, the main problem of the central bank and Rhodes’s concern is decided to make e-krone anonymous. At present, the bank believes that e-krone is likely to have a serial number of the block is embedded into the chain network. E-krone no serial number and not tampered with irrefutable will enable the government to effectively track the flow of money through the transparent ledger.

However, if you can not achieve monetary anonymization, and another problem appears, showing anger by the people of Denmark will be inevitable, they expect to get financial freedom and privacy. Rhodes has not yet decided whether the central bank should monitor and track their people trading.

defect

The Danish Central Bank block chain and digital currency concept of serious flaws in the technology assessment and password. Basically, Rhodes said that the central bank will issue electronic money to all other commercial banks, and served as the country’s creditors:

“When the financial crisis comes, all funds held by the Danish citizens eventually fell to the central bank, we will indirectly help, because we will become all the bank’s creditors.”

In this case, the concept of block chain technology is not applicable to the central bank, because in the structure, not the establishment of a central bank to act as the system block chain based on network arbiter. If this happens, it can no longer be regarded as a block chain network, because it involves trust, centralization and lead to serious security problems.

If the central bank decided to replace the Danish national monetary system, then the Danish Central Bank is still not clear technical aspects of digital currency status.

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